Recession? Forecasting? Hiring? Hybrid?
Whatever the industry, it all comes down to math.
Returns, profitability, growth goals, financial sustainability – this what we all strive for each year. What does 2023 have in store for us?
Based upon current financial market experts, 2023 could be a rocky road. Layoffs in mass have already begun; every major industry has been represented. The stock market is holding on but the debt/lending market does not seem to be trending back to corporate-friendly terms as of yet. Interest rates remain high and climbing. Corporate and consumer demand will be influx until an economic direction is solidified for the year.
The smart play, for the first-half of the year, would appear to be managing what is in your control; i.e. all “known” operating expense variables. Although seemingly obvious, this takes thought and effort to assess and mobilize.
Low-Hanging Fruit “Known” Variables:
- Rent Expenses (Footprint Rationalization, Renegotiation)
- Employees / Hiring (Outsourcing)
- Contracts (Expiring or Re-evaluating)
- Technology (Outsourcing & Upgrades)
By finding needle-moving initiatives in the new year, you can better prepare and brace for potential headwinds to come.